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Golden Glow Returns as Silver Slips: Bullion Market Sees Mixed Momentum

Updated: July 18, 2025 09:40

Image Source : The Hindu Business Line
The bullion market witnessed a contrasting trend on July 17, 2025, with gold prices edging higher while silver retreated from recent highs. Investors are closely watching global cues and upcoming US macroeconomic data, which could influence short-term price movements.
 
Gold Market Highlights:

- Gold futures on MCX rose by Rs 67 to trade at Rs 97,842 per 10 grams, after touching a high of Rs 98,080

- In the international market, COMEX gold gained 0.31 percent to USD 3,369.4 per troy ounce

- Spot gold was last seen at USD 3,361.86 per ounce, up 0.35 percent

- City-wise, 24-carat gold traded at Rs 99,770 in Mumbai, Kolkata, and Chennai; Rs 99,920 in Delhi
 
Silver Market Snapshot:

- Silver futures (September 5 expiry) fell by Rs 318 to Rs 1,12,618 per kg on MCX

- The contract had opened with a sharp drop of Rs 783 from the previous close of Rs 1,13,001

- Spot silver globally rose nearly 1 percent to USD 38.05 per ounce, but domestic sentiment remained subdued

- In major cities, silver traded at Rs 1,19,000 per kg in Mumbai, Delhi, and Kolkata; Rs 1,27,000 in Chennai
 
Market Sentiment:

- Gold is supported by tariff-related uncertainty and safe-haven demand

- Silver’s recent rally appears to be cooling off, with technical resistance and profit booking in play

- Traders await US inflation data and jobless claims for further direction
 
Sources: India TV News, The Hindu, MSN India, News18, Economic Times, Kotak Securities, Mehta Equities Ltd

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